Running Oak Capital LLC grew its holdings in shares of Brown & Brown, Inc. (NYSE:BRO – Free Report) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,571 shares of the financial services provider’s stock after buying an additional 15,531 shares during the quarter. Running Oak Capital LLC’s holdings in Brown & Brown were worth $15,716,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in BRO. Darwin Wealth Management LLC purchased a new stake in Brown & Brown during the 2nd quarter worth $30,000. Motco purchased a new stake in shares of Brown & Brown in the second quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Brown & Brown in the second quarter worth about $49,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Brown & Brown in the second quarter valued at about $50,000. Finally, Evelyn Partners Investment Management LLP purchased a new stake in shares of Brown & Brown during the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.
Brown & Brown Stock Performance
Shares of BRO stock opened at $71.32 on Tuesday. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.18 and a beta of 0.79. Brown & Brown, Inc. has a one year low of $70.92 and a one year high of $125.68. The company’s 50-day simple moving average is $79.13 and its 200-day simple moving average is $86.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.10 and a current ratio of 1.67.
Brown & Brown (NYSE:BRO – Get Free Report) last announced its quarterly earnings data on Monday, January 26th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Brown & Brown had a return on equity of 12.93% and a net margin of 17.84%.Brown & Brown’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Equities analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.
Brown & Brown Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, February 4th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, February 4th. Brown & Brown’s payout ratio is currently 20.63%.
Wall Street Analyst Weigh In
BRO has been the subject of several recent research reports. Keefe, Bruyette & Woods upgraded shares of Brown & Brown from an “underperform” rating to a “market perform” rating and dropped their price objective for the company from $80.00 to $73.00 in a research note on Thursday, January 29th. Raymond James Financial reaffirmed an “outperform” rating on shares of Brown & Brown in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Brown & Brown in a research report on Monday, December 29th. Argus upgraded Brown & Brown to a “hold” rating in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. assumed coverage on Brown & Brown in a report on Thursday, December 18th. They issued a “neutral” rating and a $91.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Brown & Brown has an average rating of “Hold” and a consensus price target of $90.64.
Check Out Our Latest Analysis on BRO
Brown & Brown Company Profile
Brown & Brown, Inc (NYSE: BRO) is a professional insurance brokerage and risk advisory firm that provides a broad range of property and casualty, employee benefits, personal risk, and specialty insurance products. The company works with commercial, public sector and individual clients to design and place insurance programs, manage claims and loss control, and deliver risk management consulting. Its services also include wholesale brokerage, program administration and other specialty distribution solutions that connect carriers and intermediaries to niche markets.
Brown & Brown operates through a decentralized model of operating units and subsidiaries, enabling local client service with the scale to access national and specialty markets.
See Also
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ABMN Staff
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